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According to the Pickleball Market Overview report from June 8, 2024 to September 5, 2024 by market research firm Metric, the pickleball market is growing at a breakneck pace. The report analyzes data from five e-commerce platforms: Shopee, Lazada, Tiki, Sendo, and TikTok Shop.
With nearly 150,000 products successfully delivered, total revenue for the pickleball category, including products with the keyword "pickleball," reached VND 22.7 billion, a 149.5% increase compared to the previous quarter.
In less than a year, pickleball has become a sporting phenomenon, attracting millions of participants.
"Customers buying Pickleball equipment come from badminton, tennis, table tennis, golf, and especially office workers who have never played sports before. On average, a person needs to spend around 1.5 million VND on equipment to be ready to play. Racket prices vary, from a few hundred thousand to tens of millions of VND," one of the shop owners selling sports equipment shared on social media.
The pickleball market is experiencing an unprecedented consumer surge. Vietnamese players are not only passionate about the sport but are also willing to invest a significant amount of money to own high-quality products. From high-end rackets and fashionable sportswear to the smallest accessories, everything is sought after by players and they are willing to pay quite high prices for it.
The explosion in popularity of this sport has led to a significant growth in the market for related sports equipment.
Sports equipment, including rackets, balls, and other accessories, is the main product group accounting for the largest share of revenue in the pickleball market. This shows that players in Vietnam place great emphasis on investing in quality equipment to get the best experience.
The growth of the pickleball market has also attracted the attention of businesses. The number of online stores involved in pickleball-related businesses has increased significantly, reaching 568 stores. This figure demonstrates the business community's acumen in grasping trends and exploiting the potential of the promising pickleball market in Vietnam.
From rackets, balls, and specialized shoes to accompanying accessories, everything has become a "hot" item that is eagerly sought after.
With a budget of 1-5 million VND per product, players can invest in quality products. This segment recorded revenue of approximately 3.1 billion VND, indicating significant demand from players for upgrading their pickleball experience.
Originating in Washington, D.C., in 1965, Pickleball is a racket sport that combines elements of tennis, badminton, and table tennis. It's played on a smaller court than a tennis court and uses a lightweight ball with small holes. Pickleball appeared in Vietnam in 2018 but only became a "craze" from the beginning of this year.
The pickleball craze has brought about many changes in our market.
The number of players in Hanoi and Ho Chi Minh City has increased hundreds of times compared to the end of 2023. While it takes 5 years to learn to play table tennis and 2-3 years for tennis, pickelball only requires 5-10 lessons to become proficient.
“Pickleball is a ‘unicorn’ sport, capable of attracting all social classes and creating a boost for the retail market. This is something few sports can achieve,” Adam Franklin, President of Franklin Sports, commented on the sport’s appeal.
